Haldane comments from an annual report published on BOE website
- Weakness of wages is one puzzle of recovery
- Balance of risks around UK GDP growth and inflation skewed materially to the downside
- Has a neutral stance on future direction of mon pol
- Policy needs to be poised to move in either direction depending on how risks and data plays out
- Expects 3rd phase of GFC from emerging markets to be reasonably protracted
The pound had a dip on the comments, which should be no surprise from the most dovish member of the MPC. There's nothing here he hasn't said before or recently. GBPUSD hit a new low of 1.5107
